A new study has revealed that the UK’s attitudes towards entrepreneurship are still optimistic despite worries from many that Brexit would lead to uncertainty and caution. Idinvest Partners has an annual study of the UK’s attitudes towards entrepreneurship. Their UK Entrepreneurship Barometer also measures concerns of young, potential entrepreneurs.
Despite worries, the study found that 44% of the UK still consider this to be the best country to start a business in. 57% of respondents said that they remained optimistic over the country’s economic state over the next year. 67% of those wanting to start a business say the same.
Managing partner at Idinvest Partners, Christophe Bavière said: “While some future entrepreneurs will be considering their options in light of Brexit, the majority continue to see themselves as future business owners and start-up founders.
“These findings clearly demonstrate the strong entrepreneurial drive at the heart of the nation and the belief that the UK continues to provide a supportive social and economic environment to foster this talent- a view that we continue to support. Over the past 20 years Idinvest Partners has helped build a dedicated ecosystem for entrepreneurs we look forward to supporting and growing the next generation of British talent.”
Despite the positive outlook, Brexit is still a clear worry for many entrepreneurs. 62% of the UK population say that they are concerned about the uncertainty of the Brexit time line and that this is a barrier to them starting a business. 30% of entrepreneurs say that access to the single market is their top concern. 59% say they are pessimistic about inflation.
So while people are still optimistic for the future, there is still a bit of caution, particularly when the terms of Brexit haven’t been clearly established for many.
Rise in entrepreneurship
More than half of people in the UK say they are eager to start their own business. About 16% say that they have made definite plans to do so over the next 12 months.
Young people in particular are the most entrepreneurial age group with 76% saying they want to own their own business one day. Though ambition here is high, 60% also said that in order to start a business they’d need to be at least 30 years old.
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An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.